DONG Energy & Siemens sell offshore wind company, A2SEA

A2SEA, an offshore wind service and installation company owned by DONG Energy and Siemens, is being sold to Belgium-based GeoSea.

GeoSea, which works on marine engineering projects, is owned by DEME Group, a provider of dredging, marine engineering, and environmental remediation. (Photo: A2SEA)

DONG Energy and Siemens have been owners of A2SEA since 2009, when both companies needed to consolidate their position in the offshore wind market. However, owning A2SEA is no longer within the scope of their core businesses and therefore the divestment came naturally.

DONG Energy and Siemens signed an agreement with Belgian GeoSea stating that GeoSea will acquire the full ownership of A2SEA. A2SEA will continue to operate out of Denmark with offshore wind turbine service and installation.

“GeoSea is a well-known and highly respected contractor within offshore wind,” said Michael Glavind, CEO of A2SEA. “To both companies, safety is of paramount importance, and furthermore, we take pride in delivering projects to the full satisfaction of our customers. We welcome the acquisition and look forward to the cooperation.”

The transaction, which is awaiting authority approval, is expected to be completed in the third quarter of 2017.

“The activities of A2SEA represent a strong and complementary fit with GeoSea’s operations,” said Luc Vandenbulcke, Managing Director GeoSea. “The combined organizations will be well positioned to provide a broader range of integrated services and solutions to offshore wind energy customers. We continue to build on existing customer relationships and ensure a safe and reliable delivery of current and future projects.”